Corient Private Wealth LLC Increases Stock Holdings in Wheaton Precious Metals Corp. $WPM

Corient Private Wealth LLC boosted its stake in Wheaton Precious Metals Corp. (NYSE:WPM) by 252.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,640 shares of the company’s stock after buying an additional 40,555 shares during the period. Corient Private Wealth LLC’s holdings in Wheaton Precious Metals were worth $6,656,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Wheaton Precious Metals by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 19,079,029 shares of the company’s stock worth $2,242,969,000 after purchasing an additional 289,939 shares during the period. Van ECK Associates Corp boosted its position in shares of Wheaton Precious Metals by 10.7% in the 4th quarter. Van ECK Associates Corp now owns 14,469,877 shares of the company’s stock worth $1,700,517,000 after purchasing an additional 1,402,092 shares in the last quarter. Capital International Investors boosted its position in shares of Wheaton Precious Metals by 1.2% in the 4th quarter. Capital International Investors now owns 7,595,725 shares of the company’s stock worth $892,650,000 after purchasing an additional 93,599 shares in the last quarter. Norges Bank purchased a new stake in shares of Wheaton Precious Metals in the 4th quarter worth approximately $864,977,000. Finally, TD Asset Management Inc increased its position in Wheaton Precious Metals by 0.5% during the 4th quarter. TD Asset Management Inc now owns 7,285,275 shares of the company’s stock valued at $857,598,000 after buying an additional 33,221 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen lowered Wheaton Precious Metals from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Zacks Research cut shares of Wheaton Precious Metals from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. UBS Group upgraded shares of Wheaton Precious Metals from a “neutral” rating to a “buy” rating and set a $160.00 target price on the stock in a research note on Friday, March 27th. TD Securities raised their price target on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Finally, TD Cowen boosted their price objective on shares of Wheaton Precious Metals from $164.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $155.64.

Wheaton Precious Metals Stock Up 0.1%

Wheaton Precious Metals stock opened at $112.92 on Friday. Wheaton Precious Metals Corp. has a 52-week low of $85.59 and a 52-week high of $165.76. The company has a market cap of $51.28 billion, a P/E ratio of 28.52, a P/E/G ratio of 2.12 and a beta of 0.51. The business has a 50-day simple moving average of $129.35 and a two-hundred day simple moving average of $132.78.

Wheaton Precious Metals (NYSE:WPM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. Wheaton Precious Metals had a net margin of 65.55% and a return on equity of 20.20%. The business had revenue of $901.47 million during the quarter, compared to analyst estimates of $868.35 million. During the same period in the prior year, the business posted $0.55 earnings per share. The company’s revenue was up 91.7% on a year-over-year basis. Research analysts anticipate that Wheaton Precious Metals Corp. will post 4.99 EPS for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Wednesday, May 27th were issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, May 27th. Wheaton Precious Metals’s dividend payout ratio is presently 19.70%.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. is a Canada-based precious metals streaming company that acquires and manages long-term purchase agreements for metals produced by mining companies. Rather than operating mines, Wheaton provides upfront and ongoing financing to miners in exchange for the right to purchase a portion of the metals produced — typically silver and gold, and occasionally other precious metals — at predetermined prices. This streaming business model offers investors exposure to metal production with reduced operating and capital-cost risk compared with traditional mining companies.

The company’s activities center on structuring and maintaining a diversified portfolio of streaming agreements across multiple jurisdictions.